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At least two environmental activists won positions on ExxonMobil’s board—with the support of fund managers like BlackRock and State Street—despite the oil giant’s best efforts to prevent shareholders from voting them in, the Wall Street Journal reports. That included a last-minute delay to the voting deadline and lobbying from Exxon against the candidates, who were fielded by Engine No. 1, a small hedge fund calling for the company to better address climate change and its contribution to global carbon emissions.
This kind of activist investing is the most interventionist type of consumer advocacy. Rather than calling for boycotts of goods and services or shaming companies on social media, becoming a shareholder allows people with environmental, labor or safety concerns to have a voice inside the organization. But successes this big are rare.
The win is seen as a rebuke to Exxon CEO Darren Woods and the company’s lackluster investments in renewable energy. Certainly it helped that Exxon delivered $22 billion in pandemic-fueled losses to shareholders last year. Now a substantial portion of the board of directors will push for green initiatives and a move away from fossil fuels.
It’s been a year since 600 & Rising burst onto the scene demanding accountability for systemic racism and lack of diversity in the ad industry. After quick backing from organizations like the 4A’s, its star faded as founder Nathan Young stepped down and the newly formed group restructured.
“Starting over feels like a weird term, but it is a bit of a refresh for us as an organization. When my co-founder departed in July, there was a lot of mending fences, ensuring the organization could remain stable,” Co-founder Bennett D. Bennett tells Ad Age’s Jeanine Poggi. “I moved on with what I believe is still a good-enough mission to stick around.” That mission now includes elevating Black talent and advocating for wage equity.
Chicken McNuggets are about to become tough to find. McDonald’s is pushing its latest celebrity meal collab with ultra-mega-superstars BTS: a 10-piece Chicken McNuggets, medium fries, medium Coke and two dipping sauces. The chain’s sales rose 4.6% in the third quarter of last year on the strength of the Travis Scott meal. Factor in BTS’ commensurately larger fanbase and do the math—it’s going to be big.
“McDonald’s announced the BTS Meal in April and since then has been promoting it on social media, including adding a small 7 to its name on Twitter and Instagram,” writes Ad Age’s Jessica Wohl, “and confirming plans for a BTS fan favorite, photocards,” wallet-sized collectible pictures of musicians popular with K-pop stans.
Know someone that’s been critical to helping your team navigate ever-changing post-pandemic business? Nominate them today for Ad Age’s annual 40 under 40 list. Deadline for entries is July 15; get more details and enter at AdAge.com/40u40.
Electronics brand LG saw a sales boost from consumers stuck at home during the pandemic, and, amid record-breaking earnings, it’s now leaning into gaming. “LG is introducing a focus on livestream gaming into its marketing for the first time. This month, the brand kicked off its new year-long ‘Only on OLED’ marketing campaign, which marries the two worlds of PC gaming and television with celebrity showdowns on trendy games like Fortnite and streaming platforms like Twitch,” Peggy Ang, LG’s head of marketing, tells Ad Age’s Ilyse Liffreing on the latest episode of the “Marketer’s Brief” podcast.
Megan Fox took on DJ Khaled in Fortnite earlier this month, drawing more than 1 million viewers to the livestream. The brand is hoping that, even as lockdown restrictions lift in many markets, the attachment to electronics as a way of connecting with far-flung people won’t.
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Draw me like one of your French executives: For the first time in its 228-year history, the Louvre will be led by a woman, the New York Times reports. Before this, the most prominent position for women in the museum was on the walls. Laurence des Cars has a reputation for breaking new ground in the insular art world, curating an exhibition on Black figures in French art and overseeing the return of a painting looted by Nazis—the first time a French museum has done so willingly.
Is there a doctor in aisle 4? Amazon is looking into expanding its considerable reach with the addition of physical pharmacies, Insider reports. If it does, the retail giant could change the healthcare landscape in much the same way as it did the grocery industry when it bought Whole Foods. Indeed, it is floating Whole Foods locations as possible sites for these pharmacies. That would be a big culture shift, given that most Whole Foods locations specialize in alternative and natural therapies. It’s tough to even find generic pain relievers like acetaminophen.
Crowded house: While brands are devising new ways to entice customers to hand over private data about their online behavior and purchases, there’s a new crop of third-party companies hoping to do the same. They’re offering AirPods, crypto-based rewards or straight up cash. But it still isn’t clear whether there’s room in the ecosystem for this business model.
That does it for today’s Wake-Up Call. Thanks for reading and we hope you are all staying safe and well. For more industry news and insight, follow us on Twitter: @adage.
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